Just like most of the other cryptocurrencies 0x (ZRX) also had a tumultuous 2018. It had fallen significantly in the year 2018 as well. That is why the bear market provided it with a unique opportunity. Instead of just worrying about the falling prices, the development team is working in full swing to improve the fundamentals.
How did bear market provide a unique opportunity to 0x (ZRX)?
When you look at the efforts of the development team of 0x (ZRX), they are currently working to promote liquidity. When the liquidity increases, the volume of the cryptocurrency usage will increase as well. When that finally happens, there are chances that the price might move higher as well. The next developer meeting of 0x (ZRX) is today itself. It remains to be seen what more steps are taken by the development team to develop 0x (ZRX) further.
In the last few months, a company by the name of Starkware has launched StarkDex. It aims to provide scalability with the help of the 0x (ZRX) protocol. As a result, the application will be a test of the scalability of the blockchain. If it passes through, it can gain even more traction from other companies as well.
Moreover, they can get a fresh and new perspective on development as well. That is why hackathon will certainly benefit ZRX tremendously. Already, there are quite a few teams which have signed up for the hackathon.
With that, it is consistently working towards gaining industry professionals and making them a part of their team. If the development team, as well as the leadership, gains more bandwidth, 0x (ZRX), will move in the right direction. When that happens, it can gain an advantage over the other cryptocurrencies as well. It will allow 0x (ZRX) to steal the limelight.
The main advantage of this is that the price of 0x (ZRX) has remained depressed. As a result, the development team does not have to deal with runaway prices. Moreover, it has got the time to improve the fundamentals to justify the price. As a result, there is no risk of any downturn or dealing with the market dynamics. They can solely concentrate on the development of the cryptocurrency rather than worrying about the volatility and the inflated prices. Thus, the downturn has provided a unique opportunity to the 0x (ZRX) team to match up the fundamentals with the price.